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EventFlash 20/05/20: Loans for large firms

20 May 2020

Submitted by Martin Fullard
on 20 May 2020

The government has extended the size of loans available to larger businesses which have been affected by the Covid-19 pandemic. The Treasury has said companies will now be able to receive up to £200m from the Coronavirus Large Business Interruption Loan Scheme (CLBILS), which previously had a maximum pay-out of £50m.

Elsewhere, the conditional phased reopening announced by prime minister Boris Johnson, 10 May, suggested some hospitality businesses could reopen as early as 4 July, as part of Phase 3. However, any business that does reopen will need to meet the government’s new work safety guidelines, and five taskforces have been set up.